News & Analysis as of

Internal Revenue Code (IRC) Energy Projects Energy Policy

Morgan Lewis

The State of Play for Energy Storage Tax Credits

Morgan Lewis on

The energy storage industry has continued to progress over the course of 2024 and into 2025, buoyed in significant part by the federal income tax benefits in the form of tax credits enacted under the Inflation Reduction Act...more

K&L Gates LLP

Proposed Texas Senate Bills Have Potential Negative Impacts on Wind and Solar

K&L Gates LLP on

Renewable energy developers should be aware of the proposed legislation in Texas that, if passed, will significantly impact existing wind and solar facilities as well as development-stage projects. Senate Bill 819 (SB 819)...more

Mayer Brown

IRS Releases Final Energy Property Regulations Under Section 48 Investment Tax Credit

Mayer Brown on

On December 4, 2024, the US Department of the Treasury (“Treasury”) and the Internal Revenue Service (“IRS”) issued final regulations, TD 10015, (the “Final Regulations”), which provide guidance on the definition of energy...more

Husch Blackwell LLP

Carbon Capture: Tax Impacts of Utilization & Storage

Husch Blackwell LLP on

One promising solution to climate change is Carbon Capture, Utilization and Storage (“CCUS”). CCUS involves capturing carbon oxides, primarily carbon dioxide (CO2), for permanent storage or potential utilization. Interest in...more

Troutman Pepper Locke

IRS Issues Final Regulations on Energy Property and Rules Applicable to Energy Credit Under Section 48

Troutman Pepper Locke on

On December 4, the Treasury Department (Treasury) and the Internal Revenue Service (IRS) released final regulations providing further guidance in determining whether property is energy property and eligible for the Investment...more

Jones Day

Final Regulations Expand Access to "Direct Pay" Elections for Energy Credits

Jones Day on

The U.S. Department of the Treasury and the Internal Revenue Service have issued final regulations allowing tax-exempt entities that are partners in clean energy projects to elect to receive energy tax credits in cash....more

Jones Day

Administration Finalizes Regulations on Clean Energy Tax Credit Transfers

Jones Day on

The Department of Treasury and the Internal Revenue Service issued final regulations on requirements for taxpayers selling clean energy tax credits....more

Akerman LLP

IRS Provides Long-Awaited Guidance Clarifying the Domestic Content Bonus Credit Requirements

Akerman LLP on

On Friday, May 12, 2023, the IRS released Notice 2023-38 (Notice) providing much needed guidance regarding the requirements to claim the new domestic content bonus credits available under Internal Revenue Code Sections 45,...more

Vinson & Elkins LLP

Offshore Wind — The Current State of Affairs

Vinson & Elkins LLP on

I. Introduction - Renewable energy development and the “energy evolution” continue to make a splash in energy infrastructure, legislation, and investment. And, among renewable energy technologies, offshore wind may be set...more

Morgan Lewis

New Proposed Regulations Provide Clarity for Claiming Carbon Capture and Sequestration Tax Credits

Morgan Lewis on

In our previous LawFlash, we summarized the key provisions of the proposed regulations pertaining to the technical mechanical and associated measurement, reporting, and certification requirements for the Section 45Q credit. ...more

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